Cloud Accounting News
It’s common now to get alerts from your bank on your smartphone. It’s even fairly easy to find a good app where you can take credit card payments from your cell. But how about the rest of your mobile accounting needs? Finally, the whole enchilada is here with Xero Touch for the Android, iPhone, and iPad.
Once you have your Xero accounting system in place, you can perform most of the major daily accounting functions from your smartphone. Xero Touch allows you to enter a four-digit pin so that the login process is easier. From there you can do the following:
At-a-Glance Balance Summary
You can check your real bank account, PayPal, and credit card balances. While banks allow you to see your bank balance, this balance does not take into consideration uncleared checks, so the balance can be misleading. Balances in Xero should be more accurate as long as you are caught up with your accounting.
You can create, approve, and send invoices. One way this feature can be utilized is to have your bookkeeper enter the invoices as drafts in Xero. Once they are entered, you can review and approve them via your smartphone. You can also email them directly from your smart phone.
Let’s say that you just used your credit card to make a purchase. You can take a picture of the receipt and enter it right in Xero Touch so you’ll be up-to-date and paperless.
What Xero calls reconciling is quite different than what you might be used to. Much of Xero’s functionality is based around bringing banking data into the system and then either matching it with bills and invoices already entered or coding it to the proper income statement account. The smartphone app allows you to do matching, coding (which they call creating), transferring between accounts, or adding comments. These are the same four functions you have available online, and we’ll go into these in more detail in next month’s article.
Are you visiting a client and need to make a note? You can do so right on your cell phone in Xero Touch.
Jazzed About Mobile Accounting?
We know, it might be a bit of a stretch to have the words “jazzed” and “accounting” in the same sentence, but we’re jazzed about Xero Touch and the future of mobile accounting.
It will only get better from here, so be the first to join us for the ride. Give us a call so we can see if Xero is right for your business at (918) 289-8212.